DALLAS, Texas - Today’s Trade Alerts include: Cell Genesys Inc. (Nasdaq: CEGE), Amylin Pharmaceuticals Inc. (Nasdaq: AMLN), Genentech Inc. (NYSE: DNA), Genzyme Corp. (Nasdaq: GENZ), Amgen Inc. (Nasdaq: AMGN) and Gilead Sciences Inc. (Nasdaq: GILD).
“After a nearly 30% hike yesterday, Cell Genesys Inc. (CEGE) shares climbed nearly 1% Friday morning, trading at $1.03. Cell Genesys, a biotechnology company, engages in the development and commercialization of biological therapies for patients with cancer. It develops cell-based cancer immunotherapies and oncolytic virus therapies...
“Cell Genesys shares recently bounced back after dropping 72% to an all-time low Wednesday when the company stopped a clinical trial of its prostate cancer vaccine GVAX. The company stopped VITAL-2, one of two late-stage tests of GVAX, because more incidents of death were found with patients who received GVAX than those who received only a standard treatment…
“However, according to Canaccord Adams analyst Joseph Pantginis, earlier clinical trials and the on-going VITAL-1 tests, which included healthier patients, demonstrated the vaccine to be clearly effective and found to prolong survival...”
“Amylin Pharmaceuticals Inc. (AMLN) shares rose 1.23% to $22.15 Friday morning. Amylin Pharmaceuticals, a biopharmaceutical company, engages in the discovery, development and commercialization of medicines for diabetes, obesity and other diseases in the United States…
“Shares of Amylin Pharmaceuticals now slightly recover after a sharp decline of the stock on news by the company and its partner Eli Lilly & Co. of new deaths among patients taking their diabetes treatment Byetta. Both companies in a conference call recently provided context and additional information regarding the August 18, 2008, U.S. Food and Drug Administration (FDA) update to a prior alert for BYETTA (exenatide) injection referencing pancreatitis…
“Wall Street is also concerned about how the reported deaths might affect prescription growth, along with any impact from stricter warnings on Byetta's label…”
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